Iran - Venezuela Oil Embargo? - Mercedes-Benz Forum

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post #1 of 90 (permalink) Old 08-12-2006, 11:00 PM Thread Starter
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Iran - Venezuela Oil Embargo?

The latest rumours mention a possible unilateral oil embargo by Venezuela and Iran, beginning on August the 22th, the anniversary of the death of Ali, the first Imam of the Shia.
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post #2 of 90 (permalink) Old 08-13-2006, 03:22 PM
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How much of our US oil do we get from Iran and Venezuela?

Don't believe everything you think
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post #3 of 90 (permalink) Old 08-13-2006, 03:29 PM
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It doesn't matter, it's fungible.
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post #4 of 90 (permalink) Old 08-13-2006, 03:29 PM
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Quote:
Originally Posted by Jayhawk
How much of our US oil do we get from Iran and Venezuela?
It does not matter how much just watch the greed take over on our side of the equation.
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post #5 of 90 (permalink) Old 08-13-2006, 04:10 PM
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Originally Posted by Botnst
It doesn't matter, it's fungible.
Why do you say that? Together it could make a huge difference if it amounts to 30% but no difference at all if they contribute nothing to our supply. After all it is all about supply & demand, but then you Blame America First guys have never really understood that basic law of economics.

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post #6 of 90 (permalink) Old 08-13-2006, 04:13 PM
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Originally Posted by Professor
It does not matter how much just watch the greed take over on our side of the equation.
"...on our side of the equation." There you go again! Just another Blame America First idiot--who can and should be ignored...

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post #7 of 90 (permalink) Old 08-13-2006, 04:18 PM
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Originally Posted by Jayhawk
How much of our US oil do we get from Iran and Venezuela?
I believe it's less than 10%. As I recall, only one U.S. oil company relies on Venezuela.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #8 of 90 (permalink) Old 08-13-2006, 04:30 PM
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Originally Posted by GermanStar
I believe it's even less than 10%. As I recall, only one U.S. oil company relies on Venezuela.
My point exactly! I believe Venezuela provides less than that, and has an inflated sense of who they are and their importance to the United States of America. After all Hugo Chávez is Spanish for Huge Asshole. And the Blame America First activists (assholes?) like Botnst and the so-called Professor, are just pawns in the war of words (God-forbid they should have to be in an actual war!) by the lunatic, left-wing, kookberger, fringe.

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Last edited by Jayhawk; 08-13-2006 at 04:44 PM.
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post #9 of 90 (permalink) Old 08-13-2006, 04:55 PM
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again you keep saying "my point exactly" yet I am telling you jay that the oil companies and specifically distribution and refineries will paint a picture of gloom to artificially prop up the price. Just sit and watch Jay! what's so anti- American with what I said?
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post #10 of 90 (permalink) Old 08-13-2006, 05:31 PM
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Quote:
Originally Posted by Jayhawk
Why do you say that? Together it could make a huge difference if it amounts to 30% but no difference at all if they contribute nothing to our supply. After all it is all about supply & demand, but then you Blame America First guys have never really understood that basic law of economics.
Under Chavez, gov spending has increased tremendously for social welfare and state jobs. Whether this is a good or bad thing doesn't matter at this juncture, what matters is that oil is the source of funding for this expansion. If Chavez were to close the spigot entirely then he'd have to run the government without any income. If he tried to do that on borrowed money (like we do) he'd have to offer some sort of assurances for a payback. Chavez has already threatened to nationalize all foreign investment, what inducement for borrowing could he offer?

Much the same description is appropriate for Iran.

So let's say they close the spigots. If they do the collect no income and begin financial suicide, their populations become restive and the government destabilizes.

Instead of closing the spigots, the refuse to sell to the Great Satan. Fine, we buy from some other source and the folks who used to buy from that source buy from Venezuela and Iran.

It's a goofy, empty 'threat' by folks who need to distract their populations from internal matters by generating external enemies.

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